22. Entity subject to MSR

the minimum stockholding requirement has been triggered for the entity in relation to the MSR product because of section 23; and

the entity has not ceased to be subject to the minimum stockholding requirement in relation to the MSR product because of section 24.

a determination is made under section 27 that —

the entity has assumed another entity’s minimum stockholding requirement in relation to the MSR product; or

another entity’s minimum stockholding requirement in relation to the MSR product has been divided with the entity; and

the entity has not ceased to be subject to the minimum stockholding requirement in relation to the MSR product because of section 24.